Ticker tape by TradingView

Want to see our trades?

See all of our entries, exits, and analysis. Use code READER for 25% OFF!
Learn More about VIP

Weekly Forex Forecast for USDCAD, GBPUSD, GBPAUD, XAUUSD (21-26 March 2021)

Hey everyone! Welcome to this week's forex forecast for the week ending March 26th, 2021. I'm TraderBart with A1 Trading, and this week I'll be looking at USDCAD, GBPUSD, GBPAUD & XAUUSD.

USD/CAD

As expected in my "Deep Dive: USDCAD" article, price did infact break through the 1.246 EQL and is now retracing and most likely collecting liquidity from the 1.258 Liquidity Void (LV). This was also the same level as previous significant support when price was travelling to the downside. I expect price to collect final liquidity at the LV before reversing and continuing the long-term trend and pushing for new lows.

GBP/USD

We've got this double ascending channel visible here, where we've got the overall channel move formed since the Covid-19 crash last year and another channel formed inside the original one, more of an intraday and shorter-term channel. Price recently made a break outside of it, touching the original channel's top, and now once again returned. Currently, price is consolidating between the two EQL and EQH levels at 1.376 and 1.40. I would like to see price close above or below these levels before I think about what positions to get into.

GBP/AUD

Price has been consolidating between this Bearish OB at 1.812 and the EQL at 1.78. This setup is pretty straightforward, I'll expect to see price reach this OB where I'll go short and look for targets at the EQL, then trail my TP lower incase we see price break out lower in this structure.

XAU/USD

Price has now moved off this descending channel's bottom at 1675, the same level as previous EQLs and is now travelling towards the channel's top. Zooming in on the H4 timeframe, we can see price has formed an intraday ascending triangle pattern, price has already broken out and retraced, and is now waiting to make an impulsive move to the upside. However, we can see that as price is now awaiting breakout, a symmetrical triangle has formed, and at this point, I recommend we wait until a clear break and retest before looking for any positions in this market.

Get Alerts every time we take a trade!

Join The VIP Community!

Our entries, exits, & analysis
Live webinar coaching calls
Trading chatrooms
Strategy library
Use Code "READER" for $5 OFF!
Join Now

Need a Better Broker?

Impeding Correction In The Equities Markets?

9/17/2021 Stocks are down -0.58% this morning after coming down to test a significant level of support once again. While stocks fall, the dollar rises in the anticipation of sooner-than-expected tapering by the Fed along with a hike in interest rates starting in 2022. Our outlook Other than September being one of the worst months […]

Read More
EURUSD- Is It Now Time To Sell This Pair?

9/16/2021 The Euro-Dollar pair is down over 0.5% today after several days in the red. Today's speech by EU president Lagarde mentioned how the economic recovery had come quicker than expected six months ago. This was praised by the prompt vaccine distribution so citizens could get back to work. Across the pond, the US just […]

Read More
What To Make Of The Latest CPI News

9/14/2021 This morning's report on CPI m/m and core CPI m/m came in at a lower percentage than expected which resulted in a falling dollar pre-New York session. The USD is now volatile under the uncertainty of potential tapering and rising rates while the equities market seems to be rising because of this. Our outlook […]

Read More
Institutions Dumped The Buck- How To Trade This

9/13/2021 Big money has been moving out of Australia's currency for nearly a month now which has been the biggest drop in long contracts in this amount of time year-to-date. Australia's dollar index (AXY) is up 0.06% at 73.61 on the day after rebounding from the lows around 71.19. Our outlook Australia's economy has surprised […]

Read More
DISCLAIMER: All comments made by TraderNick’s Forex Group, LLC are for educational and informational purposes only. All comments should not be construed as investment advice regarding the purchase or sale of any securities or financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities or financial instruments mentioned by TraderNick’s Forex Group, LLC. TraderNick’s Forex Group, LLC assumes no responsibility for your trading and investment results. All information on any of the platforms utilized by TraderNick’s Forex Group, LLC was obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. TraderNick’s Forex Group, LLC, its employees, representatives, and affiliated individuals may have a position or effect transactions in the securities and financial instruments herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves very high risk and may not be suitable for all investors. TraderNick’s Forex Group, LLC, its subsidiaries and all affiliated individuals assume no responsibility for your trading and investment result. Read our full disclaimer here

A1 Trading Company

A1 Trading Company is a financial services and media business founded in Atlanta, USA.
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram